Episode Details

Are government inflation numbers telling the whole story? Why does life feel so much more expensive even when official statistics suggest inflation isn’t quite as bad as you think? And why is the American dream becoming increasingly difficult for young Americans to achieve? I’m joined by Tom Elliott, founder of the Reality Index and American Dream Index, to examine the growing affordability crisis and the gap between government inflation statistics and the financial reality facing American families. Elliott explains how changes to the Consumer Price Index, including the use of owners' equivalent rent, quality adjustments, and substitution, can produce inflation figures that fail to capture important aspects of the rising cost of living. His Reality Index attempts to measure changes in the prices Americans actually face, while the American Dream Index examines how much a middle-class lifestyle costs relative to a typical worker's income. It’s become clear that ever since the feds took us off the gold standard and then implemented loose money policies, they have an agenda to cover up just how much inflation they are inducing. 

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